DLC Management And Principal Asset Management Acquire Retail Portfolio For $76.3 Million In Ohio

The transaction involved two Walmart-anchored shopping centers located at 2793 Taylor Square Drive in Reynoldsburg and 5800 Britton Parkway in Dublin, Ohio. The assets cover a total of 622,000 square feet, with a sale price of $76,300,000, translating to a price per square foot of $123. The retail properties are nearly fully occupied, indicating robust tenant activity in the market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $76,300,000
• Square Footage: 622,000
• Sale Price per Square Foot: $123
• Buyer: DLC Management & Principal Asset Management
• Seller: Island Capital & Casto
• Brokers: Craig Fuller, Erin Patton & Scott Wiles - Institutional Property Advisors - Marcus & Millichap
• Market: Reynoldsburg & Dublin, OH

The sale was arranged by Institutional Property Advisors, representing the partnership of Island Capital and Casto selling the portfolio to the joint venture of DLC Management and Principal Asset Management. This strategic acquisition reflects the interest in retail assets anchored by major brands like Walmart in the metro Columbus area.